Seoul: South Korea's exports surged by 17.3 percent in the first 10 days of December compared to the same period last year, driven by strong global demand for semiconductors and an increased number of working days, according to data released on Thursday.

According to Yonhap News Agency, outbound shipments amounted to USD 20.58 billion from December 1-10, up from USD 17.54 billion in the previous year, as per the Korea Customs Service. This figure represents the highest ever recorded for any 10-day period, with average daily exports rising by 3.5 percent year-on-year to USD 2.42 billion. The period saw 8.5 working days, compared to 7.5 days the previous year.

Imports during the same period climbed by 8 percent year-on-year to USD 20.65 billion, resulting in a trade deficit of USD 70 million. The increase in exports was largely attributed to the strong demand for semiconductors, with chip shipments soaring by 45.9 percent to USD 5.27 billion. Semiconductors made up 25.6 percent of South Korea's total exports during this period, marking a 5 percentage point increase from the previous year.

Petrochemical product exports rose by 23.1 percent year-on-year to USD 1.51 billion, and steel exports saw a slight increase of 1.9 percent to USD 1.19 billion. Conversely, automobile exports declined by 5.7 percent to USD 1.36 billion, while vessel shipments dropped sharply by 47.7 percent to USD 567 million.

By destination, exports to China, South Korea's largest trading partner, grew by 12.9 percent to USD 4.23 billion. However, exports to the United States fell by 3.2 percent year-on-year to USD 3.57 billion, impacted by new tariff measures from Washington. Exports to Vietnam increased significantly by 35.8 percent to USD 2.13 billion, and those to the European Union rose by 2.6 percent to USD 1.59 billion.

In November, exports had already risen by 8.4 percent year-on-year to USD 61.04 billion, marking the highest for any November, supported by strong semiconductor demand. The accumulated exports from January to November totaled USD 640.2 billion, setting a record high for the period and raising expectations that South Korea's annual exports might surpass the USD 700 billion mark for the first time in history this year.